Tulsa’s WPX Energy has completed its previously announced acquisition of Felix Energy, which has operations in the eastern portion of the Permian’s Delaware Basin. The acquisition was overwhelmingly approved by WPX shareholders at a special meeting held on March 5, 2020, where more than 99.6 percent of votes cast were in favor of the …
Chaparral Energy, Inc. announced it achieved fourth quarter 2019 production but still reported a net loss of $189.2 million or $4.14 per share. The Oklahoma City’s net loss for all of 2019 totaled $468.9 million or $10.28 per share. In light of the collapse of oil prices this week, the company said it would not …
Oklahoma City-based LSB Industries, Inc. announced that it has appointed Diana M. Peninger as an independent member of the Board of Directors of the Company effective March 5, 2020. Peninger will stand for direct election by shareholders for the first time at the annual meeting of stockholders on May 14, 2020. In addition, the Board nominated Steven L. Packebush to stand …
The Oklahoma Senate on Wednesday unanimously advanced legislation directing the Oklahoma Department of Transportation and the Oklahoma Turnpike Authority to coordinate resources and functions more closely. Senate President Pro Tempore Greg Treat, R-Oklahoma City, is the author of Senate Bill 1775. His bill directs the two agencies to coordinate as much as possible but allows the Turnpike …
Faced with shares that have plunged to 15 cents as of Wednesday morning, Oklahoma City’s Chesapeake Energy has proposed a reverse stock split to its shareholders. In a filing this week with the Securities and Exchange Commission, the company said it plans to ask shareholders for approval at an April 13 meeting. The company …
The nation’s energy industry took it on the nose again Wednesday and some of Oklahoma’s oil and gas firms suffered too. Enable Midstream, based in Oklahoma City experienced a 20% drop in stock value as Wednesday trading saw shares trading at $4.75 each. For the year, Enable shares have seen a 68% drop in …
Oklahoma Congressman Kevin Hern is among those fully supportive of any possible U.S. assistance to the nation’s oil and gas industry in light of the massive plunge in oil prices. Joining him in the effort are Rep. Tom Cole and Sen. James Lankford. Hern spoke this week with the Department of Energy about the prospect …
Newfield Energy has found itself on the losing side of a legal fight over a Kingfisher County well that ended up in Oklahoma City federal court. U.S. District Judge Charles B. Goodwin has ruled against the company after it was sued by Curtis and Cheryl Cory in a fight over a power pool contract for …
For a second time, a court has voided the U.S. Forest Service’s North Fork Valley coal exception in southwest Colorado to the Colorado Roadless Rule. The 10th Circuit Court of Appeals vacated the exemption, applying to nearly 20,000 acres, in a 2-1 ruling that overturned a lower court decision. It agreed with conservation groups that …
An Oklahoma man who ran a stop sign and was hit b y a Burlington Northern Santa Fe freight train in 2014 near Afton, Oklahoma has lost his appeal with the Federal Court of Appeals in Denver. Lower courts twice ruled in support of BNSF and against Tyler Malinski and Paula Smith whose husband died …